“Achieving revenues of $54.8m is an all-time high for any Gemfields auction and a pleasingly 24% increase to our prior auction revenue record.

“The prices achieved at this auction, combined with the high percentage of goods sold, highlight our belief in the ongoing increase in demand for responsibly sourced Mozambican rubies across key markets and jewellery categories.

“The response received from our customers was very encouraging and they share our excitement about the future potential for the ruby industry.

“As always, we thank our customers, our business partners, our host government and give credit to every member of our loyal and hard-working global team.”